Ansoffs Product Matrix Flashcards
1
Q
What is Ansoffs Product Matrix
A
Describes a combination of a firm’s activities in current/new markets with current/new products
2
Q
What leads to growth from a CURRENT market with a CURRENT product
A
Market Penetration
3
Q
What leads to growth from a CURRENT market with a NEW product
A
Product development (I.e Innovating a new product)
4
Q
What leads to growth from a NEW market with a CURRENT product
A
Market development (I.e Moving to international markets)
5
Q
What leads to growth from a NEW market with a NEW product
A
Diversification
